Different modes of renewable energy like Solar, wind, and hydropower projects will play a crucial role in helping India meet its renewable energy targets by the set deadline. India has already exceeded 200GW of green energy capacity, with solar energy leading the way at nearly 94GW.
Additionally, favorable global factors are expected to accelerate the growth of India’s renewable energy sector in 2025, following a strong performance in 2024. According to the International Energy Agency, India’s annual renewable capacity additions are projected to grow faster than any other major economy, including China, through 2030, as reported by PTI.
The stocks that are likely to benefit are listed below:
Suzlon Energy Ltd
Suzlon Energy is one of India’s leading renewable energy companies, specializing in the design, development, and installation of wind turbine generators. As a major player in the wind energy sector, it provides innovative and sustainable solutions for green energy projects. Suzlon operates across various regions and has a strong presence in India’s wind power market, contributing significantly to the country’s renewable energy goals.
Suzlon Energy, with a market capitalization of Rs. 85,189 crore, closed at Rs. 62.22 per share on the NSE in 2024. The stock has rallied around 62 percent this year.
Premier Energy Ltd
Premier Energy is an emerging player in the renewable energy sector, specializing in solar power generation and sustainable energy solutions. The company is dedicated to environmental conservation and designs and installs solar power systems for residential, commercial, and industrial sectors. Its goal is to reduce the carbon footprint through affordable and efficient solar energy solutions.
Premier Energy with a market capitalization of Rs. 59,817 crores, closed at Rs. 1,353.1 per share on the NSE in 2024. The stock has rallied around 60 percent this year.
Waaree Energies Ltd
Waaree Energies is a leading solar power solutions provider in India, offering a wide range of products, including solar panels, inverters, and complete solar solutions. The company is known for its high-quality products and exceptional customer service, catering to both domestic and international markets. Waaree Energies plays a key role in promoting solar energy as a reliable and affordable alternative for sustainable power.
As India’s largest manufacturer of solar PV panels, Waaree Energies has a market capitalization of Rs. 81,533 crores and has rallied 89 percent since its listing in 2024. The stock closed 2024 at Rs. 2,839 per share on the NSE.
KPI Green Energy
KPI Green Energy Ltd is a prominent renewable energy company specializing in solar power generation and wind energy solutions. The company develops and operates renewable energy projects, focusing on clean and sustainable energy generation. KPI Green Energy is committed to contributing to India’s green energy transition by providing innovative and cost-effective energy solutions.
The company is dedicated to generating clean, sustainable energy through its extensive renewable projects. With a market capitalization of Rs. 11,264 crores, the stock has rallied 66 percent in 2024, closing the year at Rs. 815.15 per share on the NSE.
Sector Outlook for 2025
At the CII International Energy Conference & Exhibition 2024, Union Minister of New & Renewable Energy, Pralhad Joshi, emphasized India’s commitment to sustainable growth. He highlighted that India’s goal of achieving 500 GW of non-fossil fuel-based generation capacity by 2030 is ambitious but attainable.
The renewable energy sector in India is set to add 35GW of capacity in 2025, driven by strong project pipelines and rising solar photovoltaic module prices. From April to November of this fiscal year, India has added almost 15GW of renewable energy capacity.
India aims to reach 40GW of renewable energy capacity by 2025-26, with plans to enhance infrastructure through schemes like Ultra Mega Renewable Energy Power Parks (UMREPPs). The ‘PM Surya Ghar Muft Bijli Yojana,’ with a ₹75,021 crore budget, targets providing rooftop solar power to 1 crore households.
Additionally, the wind energy sector is expected to experience significant growth, while global green energy demand, driven by countries’ transitions, will benefit Indian exporters. The government’s focus on Green Hydrogen production is also set to boost the sector in 2025.
Written by Sridhar J
